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Action Construction Equipment Ltd.

BSE: 532762 Sector: Engineering
NSE: ACE ISIN Code: INE731H01025
BSE 00:00 | 23 Sep 286.45 -7.70
(-2.62%)
OPEN

296.50

HIGH

300.40

LOW

284.75

NSE 00:00 | 23 Sep 286.45 -8.10
(-2.75%)
OPEN

292.00

HIGH

300.90

LOW

284.35

OPEN 296.50
PREVIOUS CLOSE 294.15
VOLUME 36532
52-Week high 319.50
52-Week low 175.00
P/E 29.56
Mkt Cap.(Rs cr) 3,412
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 296.50
CLOSE 294.15
VOLUME 36532
52-Week high 319.50
52-Week low 175.00
P/E 29.56
Mkt Cap.(Rs cr) 3,412
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Action Construction Equipment Ltd. (ACE) - Chairman Speech

Company chairman speech

Dear Members

Last financial year the world all economies and businesses continued to face theripple effects of the slowly waning Covid-19 pandemic. The variants of Covid-19 pandemicgot weaker and all countries carefully resumed life to pre-Covid days. But the disruptioncaused by the pandemic did not wane as fast as the effects of the pandemic. Thankfullydue to the political stability and prudent initiatives taken by our government Indiacontinues to be the most promising and resilient economy in the world amid thesechallenges.

Despite a testing FY 2021-22 your Company outperformed across all financial parametersby achieving its highest ever revenue and profit. At a consolidated level comparing withFY21 our Total Income grew by 32% to INR 1630 Crores EBITDA grew by 24% to INR 167Crores and Profit after Tax grew by 32% to INR 105 Crores. During the year the Company wasable to showcase volume and value growth maintain margins and improve its balance sheetposition further. Our balance sheet was strengthened further by the faith instilled by ourinvestors when the Company was able to raise around INR 135 crores through the QualifiedInstitutional Placement route.

In the past financial year the government emphasis on both the infrastructuraldevelopment as well as efforts to create a manufacturing hub for the world gained furthermomentum. Infrastructure development is critical for the Indian economy if we are toachieve the PM's dream of a $5 Trilllion economy. The sector is responsible for propellingIndia's overall development and hence enjoys intense focus from the Government forinitiating policies that would ensure the time-bound creation of world- classinfrastructure in the country. In FY22 various government initiatives were undertakensuch as the National Infrastructure Pipeline National Monetisation Pipeline BharatmalaPariyojana. Also a INR 100 lakh Crore master plan was made for multi-modal connectivitywith the goal of developing infrastructure to lower logistic costs. All these developmentsauger very well for your Company in the coming years.

Apart from the Infrastructure sector the construction and real estate sector also sawa good revival in the past financial year and the outlook for this sector is bright forthe Agriculture segment the Ministry of Agriculture enhanced the budget in Fiscal Budget2022. To boost farmer incomes and agricultural economy the Indian government releasedfunds in June 2021 for farm mechanisation with the goal to double farm income. Themanufacturing sector continued to emerge as one of the high growth sectors in India. PrimeMinister of India Mr. Narendra Modi launched the 'Make in India' and 'AtmanirbharBharat' programs to place India on the world map as a manufacturing hub and give globalrecognition to the Indian economy. Initiatives such as these coupled with increasinginvestments from foreign investors have created growth opportunities like never before.

ACE has been the flagbearer of innovative and world-class equipment which has resultedin the Company being rewarded with a strong brand reputation and repeat businessresulting in a consistent growth track record. The Company's agility and versatility tosatisfy a diverse range of sectors for wide applications is our biggest strength. Ourequipment is used in sectors like Infrastructure Construction Power Projects Ports& Shipyards Dams Metro Rail Roads Mining Steel Industry Engineering IndustryRailways Cement Petroleum Defence Chemicals & Fertilizer Plants WarehousingLogistics Building Construction and many more. We are dedicated to provide our customerswith the latest technology and new products through our R&D & Engineers. Ourefficient sales and product support aim to satisfy our customers across all our products.

We continue to be very confident about the company's medium- to long-term prospects andbelieve that the foundation is firmly in place. The company has made significant stridesin recent years to strengthen the operations product mix procedures and controls thatmake up the foundation of its business. I have a strong conviction that the Company isabout to enter a multi-year growth cycle given the anticipated economic expansion of Indiain the upcoming years.

In conclusion I would like to sincerely thank all our stakeholders for their continuedtrust and support and we will continue to grow our business by offering innovativeproducts and solutions and exploring new avenues for future growth.

With best wishes
Sincerely
Vijay Agarwal
Chairman and Managing Director

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